Sometimes we're reminded how important it is for a community to have the presence of large-company headquarters, especially as we have seen them dwindle here in the past decade or so.

That reminder came last week when PotlatchDeltic Corp. announced its pending merger with a Florida-based company and thus, will no longer be based in Spokane. The move further shortens the list of publicly traded companies with headquarters in this region to nine, compared with 17 companies in 2012.

While there is no blame to be placed on PotlatchDeltic, which has been a good corporate citizen, the loss reinforces the importance of local corporate leadership to support both an economy and a community. Quite simply, companies tend to be more invested in a community when they are based here, and make decisions that go beyond dollars and cents.

The reality is that the days of recruiting large publicly traded companies to our region might be a thing of the past. That said, we all should have some optimism, based on the growing importance of our startup ecosystem, and the host of new homegrown businesses here that we hope will take the place of those we've lost.

For an example, look no further than the West Side of our state, where some of the biggest headquartered companies, including the likes of Amazon, Nordstrom, Costco, Starbucks, and Microsoft were all homegrown, rather than recruited.

Although Eastern Washington lacks companies of those sizes, we should feel good about a new crop of promising ventures, including Spokane-based fintech company Treasury4, for example, which has shown immense potential since launching in 2020, raising tens of millions in new capital, landing a partnership with U.S. Bank, and more recently acquiring a Seattle-based fintech company. 

BuyWander, the online auction company that focuses on returned goods, has grown rapidly since entrepreneur Jordan Allen co-founded it in early 2024. In addition to its Spokane Valley location, BuyWander now has locations in Kent, Washington; Portland, Oregon; and Salt Lake City.

Post Falls-based restaurant chain Konala, billed as a healthy alternative to fast food, has made some recent noise on the franchising front, and has aspirations that could make the brand a household name across the country.

On top of the newest generation of locally owned companies, numerous existing homegrown businesses continue to thrive.

When STCU got its start over 90 years ago, it was operating out of a classroom at Lewis & Clark High School. Now, the Spokane-based credit union has 50 branches and serves over 300,000 members across multiple states.

Spiceology also comes to mind, as the Spokane-based company has grown every year since its inception in 2013 and has found its place on the national stage.

It’s important that we as a business community double down on the growing entrepreneurial ecosystem that has been fostered here and continue to support the businesses that call the Inland Northwest home.

Doing so will benefit all of us.

And for the founders and heads of our successful homegrown companies, we hope that as you consider expansion plans and exit strategies, you keep the Spokane-Coeur d’Alene area in mind and think about how great of an incubator it has been for your business, and how cool it would be for you to remain here as you grow larger.